Mastodawn

@CelloMomOnCars
"Don't have the money"? -more disinformation by the Epstein class financiers. The ECB, the BoE etc can create money. And provided it is invested on creation into useful projects (like environmental resiliance and mitigations) and we have the people and raw materials, then we do indeed have the money. It's just that some people, who happen to have the ear of governments, push this handbag economics nonsense as if a government with its own currency is a mere money user like them. Nope: such a government is a money creator and should use its powers for the common good.
#MMT #handbagEconomics #SovereignMoney
https://joyinenough.org/2022/01/18/how-shall-we-pay-for-it/

How shall we pay for it?

Andii Bowsher explores the perennial question of how to fund the transition to a fair and sustainable economy. There are lots of good ideas for how we can begin to do things to help reduce our nati…

Joy in Enough

Andii אַנדִֽי Apr 2, 2024

"The standard view dominates the politics of taxation and fiscal responsibility. It also prevails in sections of the academy, where some economists are wedded to the idea of money continually circulating through the economy as a persistent element in a closed system. In reality, money is regularly being created and destroyed, and economic models that don’t reflect that fact are not even slightly useful."
https://www.theguardian.com/books/2024/apr/02/outdated-and-misleading-is-it-time-to-reassess-the-very-concept-of-money
#MMT #HandbagEconomics

‘Outdated and misleading’: is it time to reassess the very concept of money?

It’s regularly being created and destroyed – and economic models that don’t reflect that fact are not even slightly useful

The Guardian

Strypey Oct 28, 2023

Bernard called it back in March;

"Chris Hipkins has fallen into the classic trap of treating the government budget like a household budget."

#BernardHickey

https://thespinoff.co.nz/politics/14-03-2023/this-is-the-rainy-day-weve-been-saving-for

#NZPolitics #Election2023 #HandbagEconomics

This is the rainy day we’ve been saving for

Chris Hipkins has fallen into the classic trap of treating the government budget like a household budget.

The Spinoff

Show thread

Strypey Jul 17, 2020

Governments borrowing money from private banks is like credit card companies borrowing credit cards from the government, paying interest for the privilege. Classic handbag economics.

#HandbagEconomics